6 Ways to Get Ahead of Your Finances

If you are lucky enough to receive a bonus, gift, or any extra cash, for a birthday or contest use the rule of thirds to determine how to use it: Use one third to pay down debt. Put the second third immediately into savings or an investment. Use the final third to make a personal improvement or purchase you want. If you follow this rule, you'll see your debt shrink and your savings grow.

2. GIVE YOUR ATM/DEBIT CARD A BREAK

It's too easy to use your card for little purchases that add up to a LOT of money – coffee, work lunches, anytime snacks, etc. Instead, decide how much money you REALLY want to spend for these items each week, then take out the cash, leave your card home (you’ll use it if you don’t!), and only spend that allotted cash. With a finite amount of cash, you'll control your spending and save a lot.

3. MAKE PAYING OFF DEBT A PRIORITY

No matter how high or low your interest rates are, those monthly interest charges add up to a LOT of money short-term, and are ridiculously expensive in the long run. Start paying off the accounts that carry the highest interest rates first, and work your way down from there. Paying down debt has another added benefit: Your credit score goes up!

4. QUIT SMOKING, SAVE THOUSANDS OF $$$

Statistics say that nationally, a pack-a-day smoker averages $2,000 annually on cigarettes. Quitting will put that money back in your pocket while also lowering your insurance premiums. Did you know smokers pay a lot more for health insurance premiums, and even more than that for life insurance? If you successfully quit smoking, you'll get nonsmoker rates!

5. KILL 2 GOALS WITH 1 STONE: EAT HEALTHY!

Lose weight AND save money? It's a myth that healthy food costs more. Think about how many potatoes you can buy for what you pay for 1 bag of potato chips - enough potatoes for a family meal! And when you add putting a stop to spending money on fast food snacks, drinks or meals, you'll have a lot more money in your pocket an a lot less weight on your body.

6. COMPARE INSURANCE QUOTES

Being with the same insurance company for years does not mean you are getting the best rate. Shop around every year or two to compare rates. There are even online comparison tools available to make the process easy.

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